Contemporaneous settlement and GST

[Ivanhoe]

G'day all!
What are the implications if GST-registered entity (entity 1) buys property from vendor (not GST-registered), settles and then another entity (2) (may be or may be not GST registered) settles on the same day? Does "entity 1" have to claim GST-pay GST? Does it have to give GST invoice on unconditional date to "entity 2"? Or only if "entity2" GST registered too? How would you structure price and GST in second contract - same way as you would when buying from non-GST registered vendor or differently?
Cheers and thank you in advance!

[Hawkboy]

I presume it's a "vacant commercial property" in which case the non GST registered vendor would be selling to the GST registered entity 1 at a price stated on the contract as being inclusive of gst. Entity 1 is therefore entitled to claim 1/9th the purchase price. the contemporaneous contract to sell to entity 2 would be at the price exclusive of GST (ie plus GST) as that vendor is registered. The sale and purchase agreement itself is deemend to be the invoice. If the property has a tenant the GST is zero rated.

[Ivanhoe]

Got this from Pooomba:
"With contemporaneous you always claim the GST on purchase price and pay GST
on sale price. The status of the vendors and purchasers entities don't
matter. Just check that both your agreements are GST inclusive that's all!!

Regards Dean"

This answers my question 100%, thanks Dean, hope you don't mind me posting it here!
Cheers
Ivan

[Hawkboy]

Thanks - Interesting - obviously more than one way to skin a Cat - Was it a Residential property? With all due respect I believe it does matter the GST status of the parties. The purchaser would not be allowed to claim GST if it were not registered and Vendor in the first instance would be selling exclusive of GST if it were registered. This is my experience with Commercial property.

Cheers

Mark.